MRF and Sovereign Leverage, page-92

Bullet point from Proactive Investors Clear air:

• MRL’s projects have low CAPEX and OPEX requirements. Production of 5,000tpa of premium quality vein graphite should generate revenues of approximately of US$10m pa. Capex to achieve this would be

From http://www.mrltd.com.au/attachments/article/101/*_ResearchNote_MRLCorp-07-03-2014.pdf and note this research was released prior to the recent acquisition of the Aluketiya project which comes with a mining licence in place, see http://www.mrltd.com.au/attachments/article/99/20140818-Acquisition-V2-FINAL.pdf

Next step would be 10,000 tap before presumably further growth on their increasing tenements.

The beauty of this puppy is they intend to get into production as soon as possible without the need for JORC, Bankable feasibility study etc, due to the history of the tenements and the low capex involved.